(1.2) 232 Saved Help Allerton Company acquires all of Deluxe Company's assets and liabilities for cash...

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(1.2) 232 Saved Help Allerton Company acquires all of Deluxe Company's assets and liabilities for cash on January 1, 2021, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts Book Values Fair Values Current assets Building $ 36,500 $ 36,500 113,750 66,050 Land Trademark Goodwill 25,250 43,950 0 30,200 22,000 Liabilities (62,500) (62,500) (100,000) (35,000) Common stock Retained earnings 1&2. Prepare Allerton's entry to record its acquisition of Deluxe in its accounting records assuming the following cash exchange amounts: $159,000 and $100,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4 1 2 (1.2) 232 Saved Help Allerton Company acquires all of Deluxe Company's assets and liabilities for cash on January 1, 2021, and subsequently formally dissolves Deluxe. At the acquisition date, the following book and fair values were available for the Deluxe Company accounts Book Values Fair Values Current assets Building $ 36,500 $ 36,500 113,750 66,050 Land Trademark Goodwill 25,250 43,950 0 30,200 22,000 Liabilities (62,500) (62,500) (100,000) (35,000) Common stock Retained earnings 1&2. Prepare Allerton's entry to record its acquisition of Deluxe in its accounting records assuming the following cash exchange amounts: $159,000 and $100,000. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 4 1 2